The title of this article is but a short version of a deal made between Blackstone (NYSE: BX) Development and Hilton. Blackstone has bought property from Hilton Hawaiian Village at the corner of Kalia Road and Paoa Place. They plan on building a 37 story 318 unit timeshare tower at that location. The degree of linkage between Blackstone and Hilton is not known yet. Very recently, Blackstone registered “Grand Islander” LLC and this must be the name of the new resort in Waikiki.
At one point the tower planned by Blackstone was Hilton’s first phase of a large redevelopment plan. Now Blackstone and perhaps a third party are taking up the mission to build it out. The marketing and sales of the timeshares? Most likely Hilton.
It is not uncommon for a stalled or delayed project to be purchased and built out by a company or developer other than the original one. Often financial concerns prevent the completion of larger and later projects. But the tower will be built. And it will add 16,536 timeshare unit weeks to the inventory for the island. That will translate into more tourism and more income for everyone.
For those who may think Hawaii is overdeveloped consider this: Timeshare resorts have consistently out performed hotels in a huge way. Timeshares enjoy the highest occupancy rating, highest level of customer/owner satisfaction, and spend more money per person while on vacation. All these facts are supported by an avalanche of studies routinely done regarding the tourism status of Hawaii.
The bottom line for the developers is just that — the bottom line. No one is building hotels in Hawaii. Anything being built is a timeshare. It makes sound sense to build more timeshares since they have been proven to draw more people who spend more. That just makes sense.
Hilton Grand Vacation Club is a well established timeshare development company with other projects underway. They’ve been one of the early industry leaders and have positioned themselves to keep up the pace. With over 150,000 members to consider, Hilton is constantly looking to add new locations and facilities to their portfolio. This one in Waikiki looks to be an excellent choice.
On their website they describe the flexibility of their vacation ownership program this way: “ Vacation in your favorite spot year after year — Hilton Grand Vacations Club resorts are located in New York City, Orlando, Miami Beach, Carlsbad, CA, Florida Gulf beaches, the Las Vegas Strip and the Hawaiian Islands. Explore the world — You’ll find Hilton Grand Vacations Club affiliated resorts in Canada, California, Colorado, Mexico, Scotland and beyond. Plus, our partnership with leading exchange companies, such as RCI, provides access to more than 4,000 affiliated resorts in nearly 100 countries.”
Learn more about other Hilton timeshares in Hawaii for sale by owners: Bay Club at Waikoloa, Grand Waikikian, HGV Club at the Kalia Tower, HGV Club at the Lagoon Tower, HGV Club at Wailoloa Beach Resort, and HGV Club Kings Land.
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